Australians Due to Rack up Record Credit Debt

Posted by Peter Brady on Fri 22nd December 2006 at 06:00 AM, Filed in Credit News

It seems that our thirst for credit stretches right across the western world with evidence suggesting that Australians “will give their credit cards a workout this Christmas totting up more than $17 billion in the shops”.

According to research group Cannex “the sheer scale of spending means that the country’s 13.1 million plus credit cards will swipe about $1,300 each.”

Gee sport! that’s a ripper of a Christmas!

Other figures suggest that this will be on top of existing credit debts of $37 billion or $2,820 per card.

(Via Sydney Morning Herald)

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